New orders for long-lasting U.S. manufactured goods unexpectedly rose in February, but are set to decline as strict measures to contain the coronavirus pandemic sap demand and push the economy into recession.
Orders for durable goods, items ranging from toasters to aircraft that are meant to last three years or more, accelerated 1.2% last month, the Commerce Department reported on Wednesday. Data for January was revised up to show durable goods orders gaining 0.1% instead of slipping 0.2% as previously reported. Economists polled by Reuters had forecast durable goods orders dropping 0.8% in February.
